nextDAO is preparing to launch a new upgrade with the intention of embracing a broader world of crypto-asset innovation. In alignment with this vision, NAX will also upgrade from a sole incentive currency to a more inclusive collaborative incentive ecosystem.
The Nebulas Foundation invites all NAX holders to participate in a vote to determine the future of NAX.
Overview nextDAO and NAX
nextDAO is Nebulas’ platform underpinning smart assets focusing on on-chain interaction and collaboration. It has redefined Nebulas’ token economy by providing decentralized financial tools and products by supporting the community via smart assets and the expansion of ecosystem applications.
The NAX token is currently used for community governance and decentralized collaboration via nextDAO. In addition, NAX is currently used in Nebulas’ node voting and community governance voting.
All who hold NAS have been able to easily obtain NAX by participating in dstaking (decentralized staking) their NAS. The distribution of the NAX tokens to the community represented economical motivation to the community for assets holding quantity and the holding duration.
The Current Situation
The actual total issuance of NAX is related to the global dStaking rate of NAS. Simply put, the more NAS dStaked, the more NAX distributed to Nebulas addresses while burning a large portion during every distribution cycle. Nebulas’ dStaking program was launched on September 11, 2019 and as of June 30, 2021, of the total 10 billion NAX planned for release, 2,045,315,851.64 NAX has been released into circulation while 2,635,768,896.68 NAX have been automatically burned (see explorer.nebulas.io and the NAX whitepaper for more details).
The Nebulas Node Strategy has been a strong use case for NAX. Community members and/or node operators are able to vote for nodes by staking NAX often in exchange for incentives. There are currently 60 active ...
To keep reading, please go to the original article at:
Nebulasio - Medium